Old Grove Road

10054 Old Grove Road, San Diego, CA

Property Highlights

  • Acquired vacant 85,824 SF institutional quality industrial building
  • Strategically located asset in a tight submarket within San Diego industrial market
  • Quasi off-market acquisition that CapRock chased for +/- 18 months

Property Information

  • Quasi off-market acquisition
  • Vacant 85,824 SF institutional-quality industrial building
  • Located ½ mile east of the I-15 freeway in the 3% vacant Central County submarket
  • Previously owned by an owner-user and has never been available for lease or sale since its construction in 1982
  • Prior to renovation, the building had significant functional challenges and limited curb appeal

Business Plan

  • CapRock Partners solved a complex environmental issue and acquired the property nearly two years after it was originally marketed
  • Upon close of escrow, CapRock immediately commenced renovations
  • The completed renovations include a modernized exterior, new entrance, drought-resistant landscaping, and rebuilt office with all new finishes

The Results

  • CapRock completed the renovations on time and on budget transforming a vacant industrial building into an institutional quality industrial building.